EU approves ABB’s $3.9-bn acquisition of Thomas & Betts

12 May 2012

1

Swiss engineering group ABB yesterday secured European Union approval for its proposed $3.9-billion acquisition of US electrical components maker Thomas & Betts as the regulators did not see the deal affecting competition.

The European Commission said the deal shows no negative impact on rivals and customers.

"The overlaps between the parties' activities are limited and the merged entity would continue to face competition from a number of other strong competitors," the EU executive said in a statement.

"Customers will therefore still have a number of alternative suppliers in the markets concerned.''  The US regulators had approved the deal in late April.

In January, the Zurich-based engineering and electrical giant agreed to buy Thomas & Betts for $3.9 billion in cash in order to expand into the North American market for low-voltage products. (See: ABB to acquire US electrical components maker Thomas & Betts for $3.9 bn) 

Memphis, Tennessee-based Thomas & Betts is a maker of electrical components and other products for industrial customers in North America, Europe and elsewhere.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers